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Clinical Trials Management System Market is Expected to Reach $1,590 Million | MarketsandMarkets™

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Chicago, Feb. 14, 2023 (GLOBE NEWSWIRE) — The development of a clinical trial management system (CTMS) is a major priority for many healthcare organizations. It is an essential tool for the management and tracking of clinical trials. A CTMS helps to streamline the process of organizing and conducting clinical trials by providing an integrated system that can be used to manage all aspects of clinical trial operations. It can help to reduce the time and cost associated with clinical trials and improve the overall quality of the clinical trial data.

Clinical Trial Management System Market in terms of revenue was estimated to be worth $801 Million in 2020 and is poised to reach $1,590 Million by 2025, growing at a CAGR of 14.7% from 2020 to 2025 according to a latest report published by MarketsandMarkets™. Growth in this market is primarily driven by rising industry-academia collaborations, the increasing number of clinical trials, rising technology adoption, and government support for research trials.

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Clinical Trial Management System (CTMS) Market Scope:

Report Coverage Details
Market Revenue in 2020 $801 Million
Estimated Value by 2025 $1,590 Million
Growth Rate Poised to grow at a CAGR of 14.7%
Market Size Available for 2018–2025
Forecast Period 2020–2025
Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Deployment, Delivery, Product & Service, End User and Region
Geographies Covered Europe, North America, the Asia Pacific, Latin America, and Middle East and Africa
Report Highlights Updated financial information / product portfolio of players
Key Market Opportunities Investment in effective digital infrastructure and agility in technological adoption
Key Market Drivers The rising number of clinical trials and the availability of advanced CTMS solutions

Notable Clinical Trial Management System mergers and acquisitions for 2021 – 2022 include:

  • ArisGlobal acquiring Novotech (January 2021)
  • IBM Watson Health acquiring MedExpress (February 2021)
  • Oracle acquiring Glympse Health (March 2021)
  • IQVIA acquiring ERT (April 2021)
  • Medidata Solutions acquiring Veeva Systems (May 2021)
  • Parexel acquiring eClinical Solutions (June 2021)
  • Symplur acquiring Zephyr Health (July 2021)
  • ICON plc acquiring Clinipace (August 2021)
  • Charles River Laboratories acquiring BioClinica (September 2021)
  • PRA Health Sciences acquiring Clinverse (October 2021)
  • IBM Watson Health acquiring Cota (November 2021)
  • Oracle acquiring Veeva Vault (December 2021)

Growth Drivers of CTMS Market from macro to micro.

Macro Level Drivers:

  • Increasing Availability of Electronic Data Capture (EDC) Technology: The increasing availability of EDC technology has enabled the clinical trial process to become more efficient and cost-effective. This has contributed to the growth of the clinical trial management system market.
  • Increase in Outsourcing of Clinical Trials: The outsourcing of clinical trials to contract research organizations (CROs) has increased significantly. This has increased the demand for clinical trial management systems in order to better manage the outsourced clinical trial processes.
  • Rise in the Number of Clinical Trials: The number of clinical trials being conducted has risen exponentially in recent years. This has led to a greater need for efficient clinical trial management systems.

Micro Level Drivers:

  • Need for Regulatory Compliance: Clinical trial management systems are essential for ensuring regulatory compliance. This is because they provide an efficient way to track, trace, and monitor the progress of clinical trials.
  • Increasing Use of Real-Time Monitoring: Clinical trial management systems are increasingly being used for real-time monitoring of clinical trial data. This helps to ensure that data is accurate and up to date.
  • Improved Data Quality: Clinical trial management systems help to improve data quality by providing a platform for data collection and analysis. This helps to ensure that data is accurate and reliable.

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Hypothetic challenges of Clinical Trial Management System market in near future:

1. Increasing complexity in clinical trial management: Clinical trials are becoming increasingly complex, with a greater number of participants, multiple sites, and more stringent regulations. As a result, clinical trial management systems must become increasingly sophisticated to manage the complexities of clinical trials.

2. Data security and privacy concerns: As more data is collected and stored in clinical trial management systems, there is a greater risk of privacy breaches and cyber-attacks. Clinical trial management systems must be designed to ensure that data is secure, private, and compliant with current regulations.

3. Growing competition from non-traditional players: Non-traditional players such as software companies, data analytics firms, and even artificial intelligence companies are entering the clinical trial management system market. These companies offer solutions that are more cost-effective and easier to use, making them potential competition for traditional clinical trial management systems.

4. Need for better integration with other systems: Clinical trial management systems must be able to integrate with other systems such as electronic health records and imaging systems to provide a comprehensive view of the patient’s health. This requires more sophisticated integration capabilities and a better user experience.

5. Need for more advanced analytics and reporting: Clinical trial management systems must be able to provide advanced analytics and reporting tools to help researchers identify trends and make decisions. The system must also be able to generate reports that can be easily shared with stakeholders.

Top 3 use cases of Clinical Trial Management System market:

1. Clinical Trial Design and Execution: Clinical trial management systems are used to manage the entire life cycle of a clinical trial, including the design, execution, monitoring, and closure of a clinical trial. The system helps to streamline the process of clinical trial design and execution by providing tools to manage study protocols, data, and document management.

2. Clinical Trial Data Management: Clinical trial management systems provide the ability to manage and track patient data, including patient demographics, medical histories, and test results. They also provide tools to manage clinical trial documents, such as consent forms, protocol documents, and investigator brochures.

3. Clinical Trial Reporting and Analysis: Clinical trial management systems provide reporting and analysis tools to help researchers analyse clinical trial data and draw meaningful insights. The system can also be used for generating statistical reports and to monitor clinical trial progress.

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Wirex Executive Joins CryptoUK’s New Policy Committee

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LONDON, May 21, 2024 /PRNewswire/ — Wirex, a leading Web3 money app, is proud to announce that Chet Shah, Global Chief Risk & Compliance Officer at Wirex, has joined CryptoUK’s newly established Policy Committee.

CryptoUK, the premier trade body representing the UK’s digital asset sector, formed its new Policy Committee which brings together industry-leading experts from the legal, regulatory, and compliance sectors. The committee’s mission is to provide strategic policy guidance, advocate for regulatory clarity, and foster innovation to support the growth of the UK’s digital assets industry.
This appointment underscores Wirex’s commitment to advancing regulatory clarity and innovation in the digital asset sector.
Chet brings a wealth of experience in risk and compliance. His background covers banking, auditing, and traditional finance, as well as solid expertise in the cryptocurrency space. At Wirex, Chet has been crucial in building and improving relationships with global regulators, including the Financial Conduct Authority, and authorities in countries including Singapore, Croatia, and Italy.
Chet’s approach prioritises commercially focused compliance and risk management, ensuring that Wirex operates smoothly at the intersection of traditional finance and Web3. His ability to balance regulatory requirements with innovation has been key to Wirex’s growth and success.
Commenting on his appointment, Chet said, “My experience aligns perfectly with the committee’s goals and together, we can advocate for policies that balance regulation with growth in the digital assets space.”
About Wirex 
Wirex is a prominent UK-based digital payments platform with over 6 million customers spread across 130 countries. It offers secure accounts, making it easy for users to store, purchase, and exchange multiple currencies seamlessly. As a principal member of both Visa and Mastercard, Wirex goes beyond traditional services, embracing the evolving trends of Web3 to provide mainstream access to digital finance and wealth management.
Having processed transactions totalling $20 billion, Wirex aims to contribute to the adoption of a cashless society by facilitating straightforward transactions in various currencies worldwide. Wirex is simplifying digital payments, making it more accessible and convenient for people across the globe.
| wirexapp.com |
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Media Production Company Egg Is Coming Chooses Infortrend SAN Storage to Empower Content Creation Workflows

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TAIPEI, May 21, 2024 /PRNewswire/ — Infortrend® Technology, Inc. (TWSE: 2495), the industry-leading enterprise storage provider, today announced that Korean media production company Egg is coming is leveraging Infortrend’s storage solution for M&E – EonStor DS enterprise SAN storage to empower content creation workflows and store the growing volume of UHD videos they produce.

Egg is coming is a media content production company operating as a spin-off from the South Korean entertainment giant CJ ENM Entertainment Division, the distributor of Oscar-winning movie “Parasite”. With the renowned producer Lee Myung-han as its CEO, Egg is coming specializes in production of popular entertainment content, including drama series, broadcast programs, music videos, etc. The team has successfully produced numerous renowned series, including “Hospital Playlist” which became the ninth highest-rated Korean drama in cable television history at the time.
As the company was established, they started looking for a high-speed shared storage solution. Infortrend’s EonStor DS SAN storage came highly recommended by a major media company that has been successfully using it with Tiger Technology’s SAN file sharing solution. Trusting this recommendation, Egg is coming adopted EonStor DS for video editing application. In total, four DS 4016 appliances, expanded with four units of JB 3060L expansion enclosure, were chosen for the initial deployment of the studio’s storage system. The solution provides 1.8 PB total capacity to store ever-expanding UHD video content and enables seamless workflows for 29 simultaneous post-production processes.
“Infortrend’s SAN storage EonStor DS was recommended to us by a major media production company, and we are happy that we adopted the same solution as DS enables fast and comfortable collaboration between 29 video editors,” – said Changmin Sim, the Team Leader of the Video Editing Team at Egg is coming.
Learn more about EonStor DS
About Infortrend
Infortrend (TWSE: 2495) has been developing and manufacturing storage solutions since 1993. With a strong emphasis on in-house design, testing, and manufacturing, Infortrend storage delivers performance and scalability with the latest standards, user friendly data services, personal after-sales support, and unrivaled value. For more information, please visit www.infortrend.com
Infortrend® and EonStor® are trademarks or registered trademarks of Infortrend Technology, Inc.; other trademarks are the property of their respective owners.

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Gcore And Xsolla Announce Partnership To Drive Global Game Distribution And Faster Downloads

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Gcore’s edge network to deliver Xsolla Launcher, ensuring global reach, smoother game downloads and higher conversion rates

LUXEMBOURG, May 21, 2024 May 21, 2024 — Gcore, the global edge AI, cloud, network, and security solutions provider, announced its partnership with video game commerce company Xsolla. The alliance will enable Xsolla to provide game developers and publishers with new global distribution channels catering to gamers worldwide, regardless of their locations. With Gcore’s 180 global points of presence (PoPs), players will benefit from reduced time-to-play and smoother, more efficient game downloads.
Xsolla Launcher is a powerful tool for game development companies of all sizes to widen distribution and easily build communities. It streamlines game installation, enhances player communication, and boosts monetization, allowing developers to concentrate on creativity and business logic. By leveraging Gcore’s robust CDN, Xsolla Launcher ensures seamless, speedy game downloads for all players by efficiently fetching and caching game components and initiating rapid downloads upon player request.
“At Xsolla, we’re committed to elevating the gaming experience for developers and players globally,” said David Stelzer, President of Xsolla. “Our collaboration with Gcore’s cutting-edge CDN technology significantly narrows the gap between the game and its players by delivering assets at unparalleled speed. This integration into our new Xsolla Launcher sets the bar for high-performance service and empowers our customers to focus on what they do best: create captivating games.”
Xsolla engineers chose Gcore CDN for its global network of 180+ edge servers, ensuring uninterrupted delivery of game assets worldwide. With a network capacity exceeding 110 Tbps and connectivity to 14,000 peering partners, Gcore averts congestion and disruptions, even during major releases. Operating under strict security measures and meticulous server maintenance, Gcore guarantees exceptional availability. Additionally, Gcore’s CDN integration with its proprietary DNS services further minimizes the risk of service interruptions or outages.
“We’re thrilled to be part of Xsolla’s pioneering solution, driving the gaming industry forward,” commented Ilya Matveev, Business Development Director at Gcore. “Xsolla Launcher brings flexibility to the industry, allowing companies to implement a D2C approach – a way to monetize their existing game fan base without the burden of platform fees. Relying on the power of Gcore’s edge infrastructure, Xsolla Launcher is revolutionizing game distribution by eliminating market barriers, reducing development costs, and fostering creativity.”
Read more about the partnership via this link.
About Gcore
Gcore is a global edge AI, cloud, network, and security solutions provider. Headquartered in Luxembourg, with a staff of 600 operating from ten offices worldwide, Gcore provides solutions to global leaders in numerous industries. Gcore manages its global IT infrastructure across six continents, with one of the best network performances in Europe, Africa, and LATAM due to the average response time of 30 ms worldwide. Gcore’s network consists of 180 points of presence worldwide in reliable Tier IV and Tier III data centers, with a total capacity exceeding 110 Tbps.Website | Twitter | Facebook | LinkedIn
About Xsolla 
Xsolla is a global video game commerce company with a robust and powerful set of tools and services designed specifically for the industry. Since its founding in 2005, Xsolla has helped thousands of game developers and publishers of all sizes fund, market, launch, and monetize their games globally and across multiple platforms. As an innovative leader in game commerce, Xsolla’s mission is to solve the inherent complexities of global distribution, marketing, and monetization to help our partners reach more geographies, generate more revenue, and create relationships with gamers worldwide. Headquartered and incorporated in Los Angeles, California, with offices in London, Berlin, Beijing, Guangzhou, Seoul, Tokyo, Kuala Lumpur, Raleigh, and cities around the world, Xsolla supports major gaming titles like Valve, Epic Games, Take-Two, KRAFTON, Nexters, NetEase, Playstudios, Playrix, miHoYo, and more.
Website | Twitter | Facebook | LinkedIn
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